UK mid-market private equity firm August Equity has inked the first investment from its third fund by backing independent school operator Minerva Education.

Minerva comprises Eaton Square School Group and Ravenstone School. Eaton Square currently has over 650 pupils on roll, while Ravenstone offers pre-prep and prep education in London.

Aatif Hassan, partner of August Equity, said, “We are delighted to complete our first investment in the education sector and particularly to do so with the investment in Minerva, which is a highly regarded schools group in London with a reputation for its pupils attaining outstanding results.

“We have tracked the progress of ESS and Ravenstone for a number of years which enabled us to complete an off-market transaction.

“We look forward to working with the management team to develop the schools and ultimately create a market-leading education provider.”